Introducing the Cropper AMA Series
We’ve received a wide variety of questions in the last couple of weeks, and we thought it would be great to start answering them on a monthly basis so our community can follow up on our progress. The number of questions will likely vary from month to month. We are also considering creating themed AMAs and interviewing our advisors and even community members on specific topics. Yield farming is not yet beginner-friendly, but we want to take a step in that direction and make it more accessible. Enabling the community to hear from a diversity of perspectives and gain knowledge about yield farming will lead to leveling up the ecosystem as a whole!
Will you have 3 digit APRs ?
Since we will be offering “Permissionless Yield Farming”, there will likely be farms with high yields. However, in order to not to turn the platform into a jungle, we will make sure to categorize the farms. Therefore, some farms will be labeled “CropperFinance” to show our approval.
Do you plan to develop a mobile app?
No, it’s not in our current plans.
Do you plan to create a wallet in your name?
This is not in our roadmap yet. We will ll think about it.
When will the project be usable?
In August, after the IDO (more details to follow soon)
Where can we participate in the IDO?
We are in discussion with a few platforms to outsource our IDO.
Could you tell us the first farm that will be available?
The first farm will obviously be CRP-USDC and will be available shortly after the IDO to allow CRP holders to be able to farm without further delay. We will communicate the first partner farms on a later stage.
The B2B proposal (for project builders) is a very smart idea and I’m very curious to see it running. What are the tokenomics for that? Specific fees when connecting the liquidity? Or will it cost CRP?
SPL project builders will have two options when creating a farm:
-[token_name]-CRP (no fees to launch a farm)
-[token_name]-USDC (creation fees in CRP)
CropperFinance harvesting fees will be 0.1%. 50% of these fees will be allocated to farming rewards, 40% will be burned, and 10% will go to our treasury.
You can check our detailed tokenomics on our GitBook https://cropper- finance.gitbook.io/cropperfinance/
Why did you choose the Solana blockchain over others?
We chose Solana for its speed and ridiculously low transaction costs, which are necessary for the creation of a competitive and profitable yield farming project.
Are you going to allow the creation of a farming with any SPL token or only CRP or USDC?
Exclusively CRP and USDC at first.
Will there be auto compounding?
As long term farmers, we do understand the importance of such a feature. Hence, this is something we will make sure to implement in the first few months following our launch.
What utility will the CRP token have?
CRP will make it possible to pay the farm creation fees, add liquidity into [Token_name]-CRP farms, and reward liquidity providers in the CRP-USDC farms.
Will there be double rewards (like Raydium) for some farms?
[Token_name]-CRP locked farms may offer double rewards if they are labeled CropperFinance farms.
What are the competitive advantages of CropperFinance compared to Raydium, which is also an AMM with Serum’s on-chain order book?
CropperFinance facilitates accessibility to farming for all new projects evolving on Solana by being permissionless.
Do you have a seed round or private sale to participate in your token launch?
Our seed round has been closed successfully, and we are now conducting our private round. Reach @croppish on Telegram or drop us an email at email@example.com
Serious offers only.
What will be the criteria for implementing a farm on your platform?
You will need to have a spl-token listed on the serum DEX. Farming is completely permissionless but each project will have to meet certain criteria to be CropperFinance labeled (these criteria are currently being developed).
Does your project plan to evolve over the long-term?
Obviously, the objective of our project is to democratize farming throughout the Solana ecosystem. It’s the long-term mission we have set for ourselves.
What locking periods will the fixed farms have?
The locking period will be determined by the creators of the farms. However, to benefit from a dual yield in CRP, it will be necessary to at least lock the farms for 6 months.
What is the advantage of being “Permissionless”?
The advantage for SPL projects is to be able to quickly launch farming solutions without being dependent on the willingness of platforms to host them.
As a farmer, this allows you to have access to a multitude of SPL farms.
How long has the project been underway?
The project was launched in early April 2021. The members of our team have been working together for several years.
Will they have bridges to other ecosystems?
This is not planned at the moment.